Columbus Pacific Acquires Student Housing Community Near University of Virginia

by John Nelson

CHARLOTTESVILLE, VA. — Columbus Pacific has acquired The Pavilion at North Grounds, a 528-bed student housing community located near the University of Virginia campus in Charlottesville.

 The acquisition was financed with a $58.1 million, 10-year, fixed-rate loan arranged by Brian Eisendrath and Cameron Chalfant of CBRE. Columbus Pacific’s planned renovations for the community include new pool furniture; refreshments to the pool area; the addition of an outdoor dog park; and enhancements to the front lobby, to include a more functional and modern cyber café. Homestead U, an affiliate of Columbus Pacific, will manage the property.

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